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Statisticism — confusing statistics and research

Coupled with downright incompetence in statistics, we often find the syndrome that I have come to call statisticism: the notion that computing is ...


19/5/18: Leverage risk in investment markets is now systemic

Net margin debt is a measure of leverage investors carry in their markets exposures, or, put differently, the level of debt accumulated on margin ...


Over 80% Of 2017 IPOs Had 'Negative' Earnings - Most Since Dot-Com Peak

2017 was a banner year for many things - record low volatility, record high complacency, and record amounts of money printed by the world's bigges ...


The Upheaval in Central America – Project Syndicate

The macro swans continue (swans = crows in this video) to gather. Social and political upheaval in Central America – in particular, Guatemala, Hon ...


Extremely Rare Bottles Of Whiskey Fetch Over $2 Million At Auction

Just six months after a Leonardo painting sold for $450 million, smashing all auction records, this week the world's record excess liquidity once ...


"Gig Economy" Glut: Uber Drivers Make Less Than Minimum Wage

Coined shortly after the great financial crisis of 2007–2009, the so-called “gig economy” or “sharing economy” refers to the increasing list of co ...


What Are They Smoking?

I would like to try some of whatever industry analysts are smoking. You can compare my earnings forecasts to their consensus estimates on a we ...


A Guide to the (Financial) Universe: Part III

by Joseph Joyce A Guide to the (Financial) Universe: Part III Parts I and II of this Guide appear here and here. 4.      Stability and Growth Is t ...


19/5/18: The Scary Inefficiency & Environmental Costs of Bitcoin

Bitcoin is just one of the cryptocurrencies, albeit the dominant one by market capitalisation and mining assets deployment. The cryptocurrency is ...


Singapore Deal Litmus Test: If South Korea Can Live With It—So Can Washington

  In the last analysis, the United States should be willing to accept both the concessions to the North that the South is willing to make and the ...


Second thoughts on miniBOTs

I generally operate on the principle that if people can show me how I’ve misunderstood something I will take that as a win. If they can do this wi ...


Weekly Commentary: Crisis Watch

Where to begin? Contagion… The Argentine peso dropped another 5.0% this week, bringing y-t-d losses to 23.7%. The Turkish lira fell 3.9%, boosti ...


Gold and Gold Stocks – Conundrum Alert

  Moribund Meandering Earlier this week, the USD gold price was pushed rather unceremoniously off its perch above the $1300 level, where it had be ...


The Most Prosperous Cities In The US Are...

Wealthy coastal enclaves no longer have a monopoly on prosperity, according to a recent ranking by RentCafe. After analyzing Census data from bet ...


Credit Card Delinquencies Spike Past Financial-Crisis Peak at Smaller US Banks

Subprime is calling.


Barclays Trader Admits He Was "Paid 400,000 Pounds A Year To Be A Tea Boy"

We doubt the thousands of McDonald's cashiers and grill workers would agree with this Barclays Plc trader's assessment that his job as a vice pres ...


Trump to ban Title X federal funding of abortion clinics

“The Trump administration wants to effectively pull Title X funding from family planning clinics providing abortion services” as reported in Moder ...


Stocks and Precious Metals Charts - Seth the Arbiter of Chaos

"Friday, April 20, was Hitler's fifty-sixth birthday. The radio announced that Hitler had come out of his safe bomb-proof bunker to talk with the ...


18/5/18: Euro area current accounts 1980-2017

What happened to the Euro area current accounts since the introduction of the Euro?Periodically, I update my charts on the Euro effects on the ext ...


California Officials Are Spying On Their Citizens With Chinese Drones

Residents of Sacramento, California, are furious about a secret government drone spying program they say is surveilling their neighborhood from ev ...


Boeing 737 Carrying 107 Crashes Near Havana Shortly After Take Off

Update: according to state media, there are only 3 survivors in today's tragic plane crash. 3 survivors in #Cuba crash of 737 on domestic route, ...


"CAR: California Existing Single-Family Home Inventory Shows First YOY Gain in a Long While"

From housing economist Tom Lawler: CAR: California Existing Single-Family Home Inventory Shows First YOY Gain in a Long WhileFrom the California ...


Two Buses Collide At Lincoln Tunnel Entrance, 34 Injured

Two buses collided at the Manhattan-side entrance of the center tube of the Lincoln Tunnel, FDNY officials say. At least 34 people reported injure ...


Thinking Outside the Box

This piece from Chief Investment Officer is so avocados I almost did a spit-take when I read it: The legislative representative to the League of C ...


The Rising Number of US Teachers Leaving for Other Fields

The rate of US teachers leaving for other jobs is on the rise. Adam Grundy of the US Census Bureau reports in a short note (May 2018): "Teachers a ...


Chart of the Day: Bear Market Repo’s—A Concise History


Quick thoughts on mini-BOTs

So everyone in London has got excited about mini-BOTs – Italy’s prospective parallel currency after Munchau on Monday and then Dizard today have w ...


Sister Survivors

The Detroit News story, January 2018 “What MSU Knew” details when the abuse started. For twenty years, the female athletes who engaged in the Mich ...


Can A Nazi Be Rational?

Hilary Putnam has long argued that facts and values, or ends and means, cannot be neatly separated. In 1981 he proposed a thought experiment, I as ...


Vatican Assails Wall Street for Creating an “Amoral Culture”

Vatican Assails Wall Street for Creating an “Amoral Culture” By Pam Martens and Russ Martens: May 18, 2018 ~  The Vatican released a lengthy repor ...


Is there a shortage of US Dollars and if so why?

At the moment we are seeing quite a few trends combined which look as though they are returning us to a position where there is a shortage of US D ...


The Average Croatian Doesn't Leave Home Until They're 32!!

Figures from Eurostat have revealed the average age at which young people leave their parent's house in Europe. You will find more infographics ...


Price Less

The “natural capital” agenda is morally wrong, intellectually vacuous, and most of all counter-productive By George Monbiot, published in the Gua ...


Fake News No Problem: Internet Totally Dominates Advertising in the US. Only 2 Companies Divvy up nearly 60% of the Spoils

TV falls behind further, suffers first ad revenue decline since Financial Crisis.


17/5/18" Timeline of Russian Growth 1992-2023 (forecasts)

I have annotated the timeline of Russia's GDP per capita from 1992 through forecast (IMF) out to 2023 with the inflation dynamics and presidential ...


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